{"id":2762,"date":"2020-09-24T14:21:05","date_gmt":"2020-09-24T12:21:05","guid":{"rendered":"https:\/\/satt-token.com\/blog\/?p=2762"},"modified":"2022-03-17T15:45:17","modified_gmt":"2022-03-17T14:45:17","slug":"we-closed-at-usd-7-1-million-and-now-the-big-burn-%f0%9f%94%a5%f0%9f%94%a5","status":"publish","type":"post","link":"https:\/\/satt-token.com\/blog\/archives\/2762","title":{"rendered":"We Closed at USD 7.1 Million and now\u2026 THE BIG BURN \ud83d\udd25\ud83d\udd25"},"content":{"rendered":"

It has certainly been an eventful ICO journey.<\/span><\/p>\n

How we closed USD 1 million within 48 hours, how we hit our soft cap of USD 3,360,000 within a week, how in the last couple of hours before ICO closing we had a whale alert \u26a0\ufe0f and FINALLY how we have managed to close at USD 7,146,854. Amazing!<\/span><\/p>\n

We want to take this opportunity to thank our loyal SaTT community who have been with us the past two years and welcome the new members of our SaTT family!<\/span><\/p>\n

And now we have come to the next stage: <\/span>The BIG BURN<\/b><\/p>\n

As part of our deflationary token model to restrict the supply of SATT, we are burning all unsold tokens left from the crowd sale.<\/span><\/p>\n

For the time being, we will hold a reserve, USD 5 million worth of SATT, representing the amount of bank transfers that are still pending. Upon successful processing of the bank transfers by tomorrow, we will also be burning all the remaining undistributed tokens.<\/span><\/p>\n

Currently the total number of SaTT tokens issued is 20 Billion. 34% of 20 Billion SATT  was allocated for the crowd sale. And now, we have more good news for you \ud83d\udc4d\ud83d\udc4d<\/span><\/p>\n

We are going even further with the burn. <\/span><\/p>\n

We are also going to apply the percentage of unsold tokens from the crowd sale to ALL the token allocations specified in our token distribution model, to be scheduled for EXTINCTION! \u2620\ufe0f\u2620\ufe0f<\/span><\/p>\n

Meaning, right now, there are 47.35% of SATT tokens that were unsold in the crowd sale, so 47.35% of the 20 billion tokens issued will be burned. That is a<\/span> WHOPPING 9.47 Billion SATT!<\/b> \ud83d\udd25\ud83d\udd25<\/b><\/p>\n

As the crowd sale numbers currently stand:-<\/span><\/p>\n

Total tokens issued: 20 B<\/span><\/p>\n

Total tokens allocated to crowd sale: 6.8 B (34% of 20 B) <\/span><\/p>\n

Tokens sold in the crowd sale: 2,168,177,183<\/span><\/p>\n

USD 5M worth of tokens: 1,369,863,013<\/span><\/p>\n

Total tokens sold + USD 5M worth of tokens (pending bank transfers): 3,538,040,196<\/span><\/p>\n

Total tokens unsold: 3,219,980,000<\/span><\/p>\n

Percentage of unsold tokens: 47.35%<\/span><\/p>\n

Tokens marked for burning:  9,470,000,000<\/span><\/p>\n

Remaining Tokens after THE BIG BURN: 10,530,000,000<\/strong><\/p>\n

By tomorrow, we will confirm the final percentage of SATT to be terminated after the bank transfers are processed. And then it\u2019s execution time!<\/span><\/p>\n

Scheduled Burning Time: 20:00 on September 25, 2020 (UTC + 8) <\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

It has certainly been an eventful ICO journey. How we closed USD 1 million within 48 hours, how we hit our soft cap of USD 3,360,000 within a week, how in the last couple of hours before ICO closing we […]<\/p>\n","protected":false},"author":7,"featured_media":2763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[660,662,696],"tags":[158,169,180,182],"class_list":["post-2762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-satt","category-satt-announcements","category-satts-stories","tag-satt","tag-satt-token","tag-token-burn","tag-token-sale"],"_links":{"self":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/comments?post=2762"}],"version-history":[{"count":2,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2762\/revisions"}],"predecessor-version":[{"id":11451,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/posts\/2762\/revisions\/11451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media\/2763"}],"wp:attachment":[{"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/media?parent=2762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/categories?post=2762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satt-token.com\/blog\/wp-json\/wp\/v2\/tags?post=2762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}